9th June 2025
Last week leading economists from the University of Oxford, the University of Cambridge and the London School of Economics and Political Science, wrote to the Prime Minister, the Chancellor of the Exchequer and the Secretary of State for Energy Security and Net Zero.
That letter includes the following paragraph re energy security:-
“Maintaining UK fossil production, in contrast, makes little difference to UK energy security; the price of oil and gas is set by the international market, and security is not achieved by modest increases in domestic fossil fuel extraction, such as through the Rosebank oil field. The risks are economic as much as environmental. North Sea oil and gas carry relatively high marginal extraction costs. Such facilities could easily prove uneconomic were the oil and gas price to fall much below present levels as global demand for oil and gas wanes. The government may have to pick up the tab of decommissioning.” (1)
The Green Tau 